On the go: The Brunel Pension Partnership has appointed five managers to run a £2.6bn Global High Alpha fund for its 10 Local Government Pension Scheme clients.
AllianceBernstein, Baillie Gifford, Fiera Capital, Harris Associates and Royal London Asset Management have each been awarded a share of the mandate, which Brunel said in a statement was “one of our pivotal products”.
The appointments followed a “huge number” of responses to a request for proposals put out earlier this year, according to Matt Betts, senior investment officer at Brunel. In total, 110 strategies were assessed as part of Brunel’s portfolio construction process.
Brunel said in its statement that it had “designed a world-class portfolio and selected the ideal balance of management styles”.
Mr Betts said: “We particularly like dynamic managers who will truly engage with us, and we believe that these managers comprise an effective combination that we hope to see deliver the long-term returns sought by our clients.
“Collectively, the managers use a range of different specialist approaches to selecting global companies that they expect to outperform the market in the long term.
“They achieve this by focusing on an array of fundamental characteristics, employing tried and tested processes alongside innovative thinking that delivers consistent return profiles.”
He added that the selection also reflected Brunel’s confidence in the managers’ environmental, social and governance credentials.
Consultants Redington and Inalytics aided Brunel’s manager search and assessment.
The Brunel Pension Partnership is a collaboration of the LGPS funds for Avon, Buckinghamshire, Cornwall, Devon, Dorset, the Environment Agency, Gloucestershire, Oxfordshire, Somerset and Wiltshire. Together the pension funds have £30.8bn in assets under management.
